The daily Davis Index for P1020 on Tuesday dropped by Rs500/mt ($6.76/mt) to settle at Rs169,655/mt ex-works India producer Monday after Balco dropped its product prices on Dec 22 in sync with the drop in spot aluminium prices on LME.
The official LME spot contract settled at $2,012.5/mt on Dec 21, down by $18.5/mt from $2,031/mt on Dec 10.
Balco dropped P1020 prices by Rs1,500/mt ($20.30/mt) to settle at Rs170,750/mt on Dec 22, down from Rs172,250/mt on Dec 11.
The daily Davis Indexes for ADC 12 settled at Rs171,986/mt ex-works India producer, down by Rs750/mt while for CG 99.5 dropped by Rs500/mt to settle at Rs169,238/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs175,160/mt, down by Rs500/mt from Rs175,660/mt ex-works India producer.